[littlezo]

This was a property from my family. Moving forward, we want the payments to be made only to me.

[ebaines]

Talk to your bank and other lenders and see if they'd be willing to refiannce with you as the mortgagee.

[dontknownuthin]

Trying to understand - so you inherited property and are holding the mortgage for new buyers, correct? And they are making payments to both you and your husband?

If you were the indebted parties, you would have to refinance the property to take his name off the mortgage. However, financial institutions sell debt all the time, as do private companies who serve as creditors like retail stores. In these cases they don't refinance, which is a hassle for the borrower. I'm not sure if there might be a simpler process for you to buy your husband's share of the debt and not change anything for the property buyer.

Have you talked to a CPA or business attorney? If your husband doesn't want any money for the debt, you could just pay $1, for example.

It might help generate better advice if you explained the circumstances as to why you want to do this. For example, if it's in anticipation of a divorce so it won't be considered community property, that can probably be managed in divorce court if it's agreed to. If it's to reduce his income for purposes of qualifying for disability or something, there might be other laws or ramifications. Can you spell that out more clearly?

[JudyKayTee]

Impossible to give advice without knowing the reason BUT, in general, the note would have to be rewritten.

Of course, asking the people to make the check payable only to you might work OR if it's in joint names, put it in your account, not a joint account.

But - in general - why?

[ebaines]

OK, rereading the OP's question I'm confused. I assumed that Littlezo is a property owner, there is a mortgage on the property held by a bank, and she wants to be fully responsible for paying the mortgage. But now I see she asked about "payments to be made only to me," not "by me," so it seems she must have sold the property to someone who is making a mortgage payment to her and her husband?

Littlezo - please clarify your question to relieve our confusion here so we can properly answer your question!

[AK lawyer]

It appears to me that OP and her husband are mortgagees. The mortgage debt is owed to them.

If this is the case, her husband could assign his interest in the note to her. Banks do this all the time.

[LisaB4657]

You and your husband have to prepare and sign an Assignment of Note and Mortgage. Then the Assignment has to be recorded in the county clerk or county register's office.

I suggest that you have this done by a local title agency or attorney. It shouldn't be expensive and you'll know that it was done properly.

Once the Assignment is done you give a written notice to the mortgagors informing them that the mortgage has been assigned to you and instructing them how and where to make the payments in the future.